Central Bank of Libya

P.O. Box 1103 Telex Address: Central Bank of Libya - Tripoli - Libya

Notice: CBL/N/717 Circular CBL No. (2019/01) Date: 10 Jumada al-Awwal 1440 AH Location: 16 January 2019 AD

To: Gentlemen/Chairmen of the Boards of Directors of Banks Gentlemen/Chairmen of the Boards of Directors of Specialized Banks

Greetings...

Subject: Prudential Rules for Pricing Banking Services Application of the principles of fairness and transparency in dealing with customers

Based on the provisions of Banking Law No. (1) of 2005 concerning banks and its amendments, And referring to Circular CBL No. (3) of 2005 issued on 12 February 2005 concerning the liberalization of banking service prices.

And to Circular CBL No. (2018/2) issued on 15 January 2018, concerning commissions and caps applied using banking intermediation for the disbursement of foreign currency allowances for Libyan families.

And in the framework of the Banking and Currency Supervision Department's follow-up of banking service price bulletins, and what it has observed of violations committed by banks regarding the pricing of banking services, namely exaggeration in estimating the corresponding commissions and fees, and breach of disclosure requirements to customers with the required transparency.

And implementing the application of guiding principles to ensure the quality of banking services and protect customers, and benefiting from them in stimulating and supporting the use of electronic means and channels and enhancing financial inclusion procedures, and the importance of putting practical solutions to address the method of providing banking services and raising their level, consolidating the principle of fairness and transparency in dealing with bank customers, without harming the interests of banks and leaving them room for competition in pricing banking services, while emphasizing the commitment to the principle of equality in publishing services in the individual and corporate sectors without restricting them to one sector over the other, we inform you of the necessity to adhere to the following controls:

1. Work on applying the principle of fairness and transparency in dealing with customers, and disclosing banking service prices and any changes that occur in them, by announcing them openly in all bank branches and banks' electronic websites, and any other means that ensure the information reaches everyone easily and conveniently.

2. Not exceeding the maximum limits of fees and commissions on basic banking accounts and services as shown in the attached table, which represent the amounts banks are allowed to charge for the basic services provided to them, and it is not necessary for the service price to match the upper limit in the table, provided that the customer's approval and acceptance of the service are obtained before providing it to them.

3. Commitment to not making any modifications to the published price bulletins for individual services, or adding any new services to them, except after notifying the Central Bank of Libya with full details and obtaining its approval.

4. Banks must provide the Central Bank of Libya with the electronic link to the banking service price bulletin for the individual and corporate sectors on its electronic website, before the end of the first quarter of each year.

5. Paragraph (first) of Circular CBL No. (2018/02) mentioned above, concerning the commission for issuing international banking cards, is repealed, without prejudice to the other controls issued pursuant to it.

For follow-up purposes, necessary measures will be taken to ensure compliance with these instructions and their proper implementation through field and office supervision, and issuing necessary instructions on the matter, and requesting the boards of directors of banks to direct executive departments to start implementing these instructions, and take the initiative to issue the necessary decision to include the commissions and fees that the bank will apply according to its pricing policies, and to provide us with the modified service price bulletin (for individuals and companies) for the year 2019 before mid-February next.

Peace, mercy, and blessings of God be upon you...

Dr. Mukhtar Al-Hadi Al-Tawil Director of Banking and Currency Supervision Department

The Governor

To: Mr./Director of the Office of the Head of the Administrative Control Authority Mr./Director of the Office of the Head of the Court of Auditors Mr./Head of the Central Authority for Sharia Supervision Mr./Director of the Legal Affairs Department - Central Bank of Libya Mr./Director of Payments and Settlements Department - Central Bank of Libya Mr./Director of Banking Operations Department - Central Bank of Libya Mr./Director of Internal Audit Department - Central Bank of Libya Mr./Director of the Environmental Financial Information Unit Gentlemen/Managers of Central Bank of Libya branches (Benghazi - Sabha - Sirte) Gentlemen/Heads of Sharia Banks in Banks Mr./CEO of the Environmental Banks Association Gentlemen/General Managers of Banks Mr./General Manager of Ma'amalat Financial Services Company Gentlemen/General Managers of Electronic Payment Companies (Al-Madar Al-Jadid - Tadaawul - Imar - Tafti) Mr./Deputy Director of Banking and Currency Supervision Department for Office Supervision and Best Follow-up Mr./Deputy Director of Banking and Currency Supervision Department for Field Supervision, Policies, and Legislation Mr./Deputy Director of Banking and Currency Supervision Department for Islamic Tax Matters Gentlemen/Heads of Compliance Units in Banks (for follow-up) Banking Follow-up and Compliance Monitoring Department Islamic Tax Department

Prepared by: Abdul Hamid 1/1/2019

www.cbl.gov.ly - swift code :CBLJLYLX- +218 21 444 1488: Fax - +218 21 333 3591 : Phone

Central Bank of Libya

P.O. Box 1103 Telex Address: Central Bank of Libya - Tripoli - Libya

Schedule of Maximum Limits for Fees and Commissions on Basic Banking Accounts and Services for Retail Customers

No.	Description of Banking Service	Maximum Fee or Commission Price
1	Commission for opening a new current account (Regular, Electronic):<br>Libyan Dinar accounts:
	- For government employees	20 L.D. once maximum / and maximum for conditional deposit 75 L.D.
	- For self-employed	25 L.D. once maximum / and maximum for conditional deposit 100 L.D.
	- Student accounts	5 L.D. once maximum / and maximum for conditional deposit 50 L.D.
	- Foreign currency accounts	Equivalent of 20 USD maximum / conditional deposit not exceeding 50 USD, according to the official rate
2	Balance reduction below the required minimum	No commission, and the minimum balance is the conditional deposit amount for opening the account.
3	Annual commission for current account management:
	- In Libyan Dinar	8 L.D. maximum / annual sale for current account
	- Foreign currency current account	2 USD or equivalent / monthly, maximum, according to the official rate
	- Foreign currency electronic account	2 L.D. monthly, maximum
4	Reactivating a dormant account:
	- In Libyan Dinar	40 L.D., maximum
	- In Foreign Currency	Equivalent in Dinar of 30 USD, maximum, according to the official rate
5	Account closure fee	10 L.D., maximum / provided that the account closure is upon the customer's request
6	Issuance of checkbooks:
	- Electronic checkbook 25 sheets	20 L.D. maximum
	- Electronic checkbook 50 sheets	35 L.D. maximum
	- Issuance of a counter check (withdrawal slip)	Free

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No.	Description of Banking Service	Maximum Fee or Commission Price
7	Cash withdrawal within the bank:
	- By Egyptian check in the same branch	Free
	- By Egyptian check from another branch within the bank	2 L.D. maximum
8	Check certification:
	- Certification of a check debited from an Egyptian account	10 L.D. maximum / regardless of the check value
9	- Execution of request to stop a lost checkbook	20 L.D., maximum for the entire book
	- Execution of request to stop a lost check	10 L.D., maximum
10	Account statements of all types:
	- Statement less than one year	0.250 L.D., maximum / per page
	- Additional statement within a one-month period and less than five years, from the date of request.	0.500 L.D., maximum / per page, if the statement is for more than one year
	- Additional statement for more than five years	0.750 L.D., maximum / per page
11	Check collection commission:
	- Collecting a check within the same branch	1 L.D., maximum, fixed for all amounts
	- Collecting a check from another branch within the bank	2 L.D., maximum, fixed for all amounts
	- Collecting a check drawn on another local bank	10 L.D., maximum, including monthly salary protection fees
12	Returned check commission (Issued and Received):
	- Due to insufficient balance or signature discrepancy	10 L.D., maximum, per each check
	- For technical reasons or otherwise related to the bank	Free

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No.	Description of Banking Service	Maximum Fee or Commission Price
13	Electronic payment service via mobile phone:
	- Wallet recharge	10 L.D., maximum
	- Wallet statement	1 L.D., maximum
	- Annual wallet account management (Individuals)	20 L.D., annually, maximum
	- Annual wallet account management (Merchants)	100 L.D., annually, maximum
	- Money transfer between individuals	0.100 L.D., maximum
	- Payment from individuals to merchants for purchases	3% per transaction, maximum, deducted from the merchant only
14	Local transfers (Outgoing and Incoming):
	- Transfer between customer's accounts within the bank	3 L.D., maximum / fixed for all transfers in Libyan Dinar and Foreign Currency
	- Transfer between customer's account and another account within the bank	5 L.D., maximum / fixed for all transfers in Libyan Dinar and Foreign Currency
	- Execution of standing payment order	1 L.D., maximum / per each order, with subscription fee 5 L.D. annually maximum
	- Transfer from account to account outside the bank (ACH)	5 L.D., maximum / fixed for all amounts
	- Transfer from account to account outside the bank (RTGS)	10 L.D., maximum / fixed for all amounts
	- Commission for incoming transfer from another bank	2 L.D., maximum / fixed for all amounts
	- Modification or cancellation of outgoing transfer	5 L.D., maximum / fixed for all amounts
15	Local electronic banking cards (ATM, POS):
	- Issuance or renewal of the card	40 L.D., maximum
	- Issuance of an additional card on the same account	50 L.D., maximum
	- Re-issuance of a lost card	75 L.D., maximum
	- Card account management	2.500 L.D., maximum, quarterly
	- Card recharge	10 L.D., maximum
	- Re-issuance of PIN	10 L.D., maximum
	- Cash withdrawal at ATM	0.500 L.D., maximum, per each 100 L.D.

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www.cbl.gov.ly - swift code :CBLJLYLX- +218 21 444 1488: Fax - +218 21 333 3591 : Phone

Central Bank of Libya

P.O. Box 1103 Telex Address: Central Bank of Libya - Tripoli - Libya

No.	Description of Banking Service	Maximum Fee or Commission Price
15	Use of the bank card at POS points	Free for the cardholder, 3% per transaction maximum, deducted from the merchant
	Balance inquiry	1 L.D., maximum
	Dispute on a transaction at ATM or POS	20 L.D., maximum / and free if the dispute is valid
16	International electronic banking cards (ATM, POS)
	- Issuance or renewal of the card	70 L.D., maximum, deducted once throughout the card's validity, provided the validity is less than two years
	- Card recharge	10 L.D., maximum
	- International card account management	40 L.D., annually, maximum
	- Re-issuance of lost card / Re-issuance	100 L.D., maximum, or equivalent in foreign currency
	- Issuance of alternative PIN	10 L.D., maximum
	- Purchase via POS terminals and "Internet" network	1 USD or equivalent, maximum per each transaction
	- Cash withdrawal from ATM	4 USD or equivalent, maximum, per each 100 USD
	- Balance inquiry	1 USD or equivalent, maximum
	- Dispute on a transaction at ATM or POS	50 USD, maximum, and free if the dispute is valid
17	Other services:
	- Signature verification	Free
	- Bank account holding certificate	3 L.D., maximum
	- Financial solvency certificate / Authentication of client's financial data	5 L.D., maximum
	- Certificate of good standing / No liabilities	5 L.D., maximum
	- Letter of commitment to deduct installments for others	5 L.D., maximum / once
	- Request for a copy of a cashed check	5 L.D., maximum / per each check
	- Subscription to SMS service	3 L.D., maximum / quarterly, for all services
	- Execution of request to issue a special bank code (CBL-CLIENT KEY)	10 L.D., maximum / once

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www.cbl.gov.ly - swift code : CBLJLYLX - +218 21 444 1488 : Fax - +218 21 333 3591 : Phone